NEWS RELEASE FOR IMMEDIATE RELEASE June 3, 2002 DHCD Welcomes New Chief of Staff The Department of Housing and Community Development (DHCD) welcomes Robert Trent as its new chief of staff. Mr. Trent has over 20 years of experience in all aspects of mortgage underwriting. Mr. Trent's most recent employment experience was with Freddie Mac as a senior mortgage analyst. In this capacity, he completed on-site reviews of the Processing Administrator's operations to identify underwriting problems that impacted investment quality, and reported those problems to senior management. In assessing the Processing Administrator's operations for inefficient processing and credit system issues, he recommended solutions to improve processing efficiency. As senior underwriter with Freddie Mac, he was responsible for underwriting 80 to 100 loans per month. Mr. Trent also served as chief underwriter/operations manager with responsibilities of managing the day-to-day operations for a local banking institution, including five branches and the corporate office. In this position, he managed a $45-50 million monthly loan volume pipeline and served as the chairperson for the bank's Exception and Loan Committee.